PrimeEnergy Resources Corporation

PNRG · Materials · $297.4M mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power98

Median gross margin 89.5% over 8y, very stable.

Returns on capital23

Median ROIC 6.8%, above the 9% hurdle in 43% of years.

Balance-sheet safety78

Net cash position — no leverage risk.

Capital discipline100

Owner earnings +25.3%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

41% below value

Owner earnings (normalized): $28.1M
Est. intrinsic value / share: $309.86
Recent price: $182.19
Discount to value: 41% below value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell PNRG. See the disclaimer.